Housing Sales Expected to Dip 2% in Top 9 Indian Cities This Quarter
Housing, Realty, Real Estate, Indian Cities, Property Sales
HousingRealtyReal EstateIndian CitiesProperty SalesReal Estate NewsJun 20, 2024
The report states that housing sales in Delhi NCR are expected to rise to 10,198 units during April-June, a significant increase from 9,635 units in the year-ago period. Bengaluru is also expected to see a rise in housing sales, with sales estimated to reach 15,127 units from 15,088 units.
On the other hand, Chennai is expected to witness a decline in housing sales, with sales falling to 4,841 units from 4,950 units. Hyderabad is expected to see a 20% decline in housing sales, with sales estimated to reach 15,016 units from 18,757 units.
Kolkata, Mumbai, and Navi Mumbai are expected to see a rise in housing sales, with sales estimated to reach 5,130 units, 13,032 units, and 9,035 units, respectively. Pune, however, is expected to see a 15% decline in housing sales, with sales estimated to reach 22,482 units from 26,586 units.
Thane is expected to see a 9% rise in housing sales, with sales estimated to reach 25,041 units from 22,956 units in the year-ago period.
PropEquity Managing Director and Chief Executive Officer Samir Jasuja attributed the decline in sales to the usual slowdown in the April-June quarter. He stated that the January-March period was an extraordinary quarter with the highest absorption/sales ever witnessed in India.
Information PropEquity is a real estate data and analytics company that tracks over 1,73,000 projects of 57,500+ developers across 44 cities in India on a real-time basis.
Frequently Asked Questions
What is the expected decline in housing sales in the current quarter?
2% decline to approximately 120,000 units
Which cities are expected to see a rise in housing sales?
Delhi NCR, Bengaluru, Kolkata, Mumbai, and Navi Mumbai
Which cities are expected to see a decline in housing sales?
Hyderabad, Pune, and Chennai
What is the reason for the decline in housing sales in the current quarter?
Lower demand in Hyderabad and Pune, and the usual slowdown in the April-June quarter
What is PropEquity?
A real estate data and analytics company that tracks over 1,73,000 projects of 57,500+ developers across 44 cities in India on a real-time basis
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